Compass EMP Funds, the Tennessee-based registered investment advisor and index developer, introduced its fifth exchange traded fund today with the debut of the Compass EMP Developed 500 Enhanced Volatility Weighted Index ETF (NasdaqGM: CIZ).
“CIZ seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the CEMP International 500 Long/Cash Volatility Weighted Index (the “Index”). CIZ’s investment objective and the Index may be changed without shareholder approval,” according to a statement issued by Compass.
The passively managed Compass EMP Developed 500 Enhanced Volatility Weighted Index ETF can provide exposure to 500 of the largest ex-U.S. developed market equities. CIZ’s underlying index only includes those firms that have shown four consecutive quarters of positive earnings and weighted based on each company’s volatility.
Well-known index constituents include Agrium (NYSE: AGU), BHP Billiton (NYSE: BHP) and BP (NYSE: BP), according to Compass data.
In July, Compass entered the ETF arena with the debuts of the Compass EMP U.S. 500 Volatility Weighted Index ETF (NasdaqGM: CFA), the Compass EMP U.S. 500 Enhanced Volatility Weighted Index ETF (NasdaqGM: CFO) and the Compass EMP U.S. EQ Income 100 Enhanced Volatility Weighted Fund (NasdaqGM: CDC).